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Asian Growth Props (AGP)

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Tuesday 05 October, 2010

Asian Growth Props

Director/PDMR Shareholding

RNS Number : 8676T
Asian Growth Properties Limited
05 October 2010
 



5th October, 2010

 

ASIAN GROWTH PROPERTIES LIMITED

 

Change of a Director's Deemed Shareholding Interest

 

The board of directors of Asian Growth Properties Limited (the "Company") (AIM Stock Code: AGP), the Hong Kong based China property development and investment company, announces that the Company has today received notification from Mr. Lu Wing Chi ("Mr. Lu"), an executive director of the Company of the change of his deemed interest in the ordinary shares of US$0.05 each in the Company ("Shares") as follows:

 

(1)   Mr. Lu and the persons connected with him are presently deemed to be beneficially interested in 265,529,776 Shares which represent about 29.96% of the existing issued share capital of the Company as a result of Nan Luen International Limited ("NLI") increasing its shareholding interest in S E A Holdings Limited ("SEA") on 30th September, 2010;

 

(2)   SEA is beneficially entitled to, in aggregate, about 97.17% of the existing issued share capital of the Company;

 

(3)   Mr. Lu is deemed interested in the Shares by virtue of (i) his 0.98% direct shareholding interest in SEA; (ii) his 32.61% direct shareholding interest in JCS Limited ("JCS"), and (iii) his 30% direct shareholding interest in NLI.  JCS is interested in 63.58% of the issued shares in NLI; and

 

(4)   On 30th September, 2010, all of the SEA shares repurchased by SEA in September 2010 were cancelled and NLI acquired additional SEA shares.  Immediately before the aforesaid cancellation and acquisition, NLI had a diluted 58.71% interest in the issued share capital of SEA and Mr. Lu's shareholding interest in SEA was virtually unchanged at about 0.98% as a result of the issue by SEA of new SEA shares to certain option holders who had exercised their subscription rights. Immediately after the aforesaid cancellation and acquisition, NLI increased its shareholding in SEA to about 58.84% and Mr. Lu's shareholding in SEA remained virtually unchanged at about 0.98%.  Accordingly, Mr. Lu is deemed to have increased his beneficial shareholding interest to 265,529,776 Shares, representing approximately 29.96% of the existing issued share capital of the Company.

 

For more information, please contact:

 

Lu Wing Chi                            Tel: +852 2828 6363

Executive Director

Asian Growth Properties Limited

 

Richard Gray                            Tel: +44 207 459 3600

Andrew Potts

Panmure Gordon (UK) Limited

(Nominated Advisor)


This information is provided by RNS
The company news service from the London Stock Exchange
 
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